First Watch Restaurant Group (NASDAQ:FWRG) Price Target Raised to $22.00 at Barclays

First Watch Restaurant Group (NASDAQ:FWRG) had its price target hoisted by Barclays from $18.00 to $22.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also recently issued reports on FWRG. Bank of America reduced their price target on shares of First Watch Restaurant Group from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Guggenheim dropped their price target on shares of First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, October 4th. TD Cowen reiterated a “hold” rating and issued a $18.00 price objective on shares of First Watch Restaurant Group in a research note on Thursday, September 12th. Benchmark restated a “buy” rating and set a $23.00 price target on shares of First Watch Restaurant Group in a report on Wednesday, October 16th. Finally, Stephens lifted their price objective on First Watch Restaurant Group from $20.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.33.

First Watch Restaurant Group Stock Up 1.2 %

Shares of NASDAQ FWRG opened at $21.07 on Friday. The stock has a market cap of $1.27 billion, a PE ratio of 63.85, a P/E/G ratio of 5.88 and a beta of 0.85. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33. First Watch Restaurant Group has a 12-month low of $12.90 and a 12-month high of $25.98. The company has a 50-day moving average of $15.91 and a 200 day moving average of $17.33.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). The firm had revenue of $251.61 million during the quarter, compared to analyst estimates of $256.17 million. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.64%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 earnings per share. As a group, sell-side analysts predict that First Watch Restaurant Group will post 0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FWRG. Commerce Bank purchased a new position in shares of First Watch Restaurant Group in the 3rd quarter valued at about $208,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of First Watch Restaurant Group in the 3rd quarter worth approximately $1,566,000. Mutual of America Capital Management LLC acquired a new stake in shares of First Watch Restaurant Group in the 3rd quarter worth approximately $5,757,000. Versor Investments LP purchased a new position in First Watch Restaurant Group in the 3rd quarter valued at approximately $201,000. Finally, Rocky Mountain Advisers LLC raised its holdings in First Watch Restaurant Group by 180.1% during the third quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company’s stock worth $103,000 after purchasing an additional 4,250 shares during the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.

About First Watch Restaurant Group

First Watch Restaurant Group, Inc, through its subsidiaries, operates and franchises restaurants under the First Watch trade name in the United States. The company was formerly known as AI Fresh Super Holdco, Inc and changed its name to First Watch Restaurant Group, Inc in December 2019. First Watch Restaurant Group, Inc was founded in 1983 and is based in Bradenton, Florida.